Revolut wins Argentina Central Bank approval, plans 2027 launch
Approval allows fintech firm to move ahead with preparations for a commercial launch in Argentina next year. Leer más
Revolut Ltd. secured approval from Argentina's Central Bank to acquire Banco Cetelem Argentina, paving the way for the UK-based fintech to commence banking operations in the nation. This regulatory endorsement will facilitate Revolut's planned commercial launch in 2027, according to company CEO Agustín Danza. Danza emphasized that securing a banking license marks a significant milestone, as it enables Revolut to fully utilize its value proposition and create a substantial impact in the market.
In 2025, Revolut secured Banco Cetelem Argentina from BNP Paribas SA as part of its growth strategy in Latin America, aiming to obtain a banking license through the acquisition. With the approval, Revolut plans to finalize the transaction, positioning the company as a promising growth opportunity in the region. Following the transaction, Banco Cetelem will be rebranded as Revolut Bank Argentina SAU, initially without public-facing products or services as it focuses on building its business.
Over 150,000 Argentinian consumers have pre-registered for Revolut's services, eager to access the company's upcoming product suite. The company has also assembled a local board, including former HSBC Argentina executive Juan Marotta, as its chairman. Argentina represents a key growth market for digital banking, given its large, underserved population.
Revolut has already established a presence in digital banking in Mexico and Brazil, operating under a direct-credit license in Brazil. The fintech's entry is expected to intensify competition in Latin America's advanced digital-payments landscape, where it will face established players like Mercado Pago, the fintech arm of e-commerce giant MercadoLibre Inc., as well as local banks and fintech companies such as Ualá and Naranja X. MercadoLibre previously indicated intentions to seek a banking license for its Argentine fintech unit.
In September, a central bank official suggested that the license would be granted before the end of the year.
Written by urgent.news from Buenos Aires Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
